Definition
Prohibited strategies
The firm's list of banned approaches: exploits (latency/tick), copy services, gambling patterns, cross-account hedging.
Every rulebook has a catch-all section. The recurring members: simulation exploits, third-party copy/signal services, martingale-style sizing, hedging the same instrument across accounts or firms to lock a guaranteed pass.
The catch-alls are enforced retroactively at payout review — 'it executed fine' never means 'it's allowed'.
Related terms
General industry definitions — individual firms define terms differently in their own ToS; the decoded rulebook for each firm is the source of truth. Educational, not financial advice.